SAN ANTONIO–(BUSINESS WIRE)–Usio, Inc. (Nasdaq: USIO), a provider of cloud-based, integrated FinTech electronic payment solutions, mourns the loss of Michael R. Long, the company’s chairman and co-founder, who passed away on September 7, 2022.
“I am deeply saddened by the passing of Michael,” said Louis Hoch, Vice President, President and Chief Executive Officer. “Michael has been my mentor, confidant, friend and business partner for almost 30 years. After working together at Billing Concepts and US Long Distance, Michael Long, David Jones and I founded Billserv.com in 1998 during the gold rush of the dot-com era with the goal of becoming the leader in the electronic bill presentment and payment industry. We quickly achieved this goal under Michael’s leadership as President and CEO, and later, after leaving Billserv, we became a leader in ACH processing under the Payment Data Systems name.
“When I remember Michael, I will remember his unique mastery of listening to his customers, employees and shareholders. He had a special way of letting you know that he cared deeply about your thoughts and ideas and always let you know that you were important to achieving company goals and objectives. Usio employees viewed Michael as a teacher and leader whom they loved, respected and admired. He will be greatly missed by all who had the good fortune to work with him.All Usio employees pray for peace for Mr. Long’s wife, Kathy, and their families during their time of loss.
Mr. Long served as President and Chief Executive Officer of the company from its inception in 1998 until August 2016, when he stepped down as Chief Executive Officer and focused solely on leading the Board of Directors. administration as president of the company.
At a special meeting of the Board of Directors on September 12, 2022, the Board voted unanimously to appoint Mr. Long to the posthumous and honorary position of Chairman Emeritus and Louis Hoch as Chairman in addition to his current duties. of President and Chief Executive Officer. The position of Vice-Chairman of the Board will remain vacant until a suitable replacement is identified. With Mr. Long’s passing, Usio’s board of directors will remain compliant with Nasdaq’s corporate governance rules with a majority of independent members and will continue to meet Nasdaq’s board diversity requirements.
About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), a leading provider of integrated, cloud-based FinTech electronic payment solutions, offers a wide range of payment solutions to merchants, billers, banks, offices services, crypto exchanges and card issuers. The company operates credit, debit/prepaid and ACH payment processing platforms to provide its customers with convenient, world-class payment solutions and services. The Company, through its Usio Output Solutions division, offers services related to electronic invoice presentment, document composition, document breakdown, and printing and mailing services. The Company’s strength lies in its ability to provide tailor-made solutions for card issuance, payment acceptance and bill payment as well as its unique technology in the prepaid sector. Usio is headquartered in San Antonio, TX, with offices in Austin, TX and Franklin, TN, just outside of Nashville.
Websites: www.usio.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com. Find us on Facebook® and Twitter.
DISCLAIMER OF FORWARD-LOOKING STATEMENTS
Except for historical information contained in this release, the matters discussed in this release include forward-looking statements that are covered by safe harbors. These statements include, but are not limited to, all statements regarding management’s intent, beliefs and expectations, such as statements regarding our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as “believe”, “intend”, “look into the future”, “anticipate”, “plan” and “expect”, among others. . are subject to certain risks and uncertainties inherent in the business of the Company that could cause actual results to vary, including risks related to an economic downturn resulting from the COVID-19 pandemic, the realization of opportunities from the acquisition of IMS , management of the growth of the Company, the loss of key resellers, relationships with the Automated Clearinghouse network, banking sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the share price volatility, the need to obtain additional financing, risks associated with new tax legislation and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in the Company filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal year ended December 31, 2021. One or more of these factors has affected, and in the future may affect the Company’s business and financial results in the future and could cause actual results to differ materially from plans and screenings. In light of the material uncertainties inherent in the forward-looking statements included herein, the inclusion of this information should not be construed as a representation by us or anyone else that the objectives and plans will be achieved. All forward-looking statements made in this release are based on information currently available to management. The Company undertakes no obligation to update forward-looking statements, except as required by law.